It's low class but some managers I know make s killing.houses are in poor condition since they were built quickly in 1946 to house the returning soldiers from the war👍 

You don't have anything to take I assume since you don't have anything to put into the project.

Also do research on what's required to properly manage a LLC so the veil cannot be pierced. 

These all require applicants to submit an acceptable Letter of Explanation addressing each specific issue and occurrence.Rental HistoryBecause a current landlord may say anything to get rid of a bad tenant out of desperation, we also require information for the previous landlord of all applicants…Analyze IncomeMany landlords require a month of paystubs from applicants and just use these to calculate a monthly qualifying income…Employment StabilityUnless an applicant has exceptional credit, we strive to determine their stability of employment…AssetsWe are one of the few management companies that requires a bank statement as part of our application process…Letter Of ExplanationAny time there are credit issues or we discover an inconsistency, we require a written letter of explanation (LOX)…UnderwritingTraditionally, landlords have only looked at the income of applicants…ApprovalOnce an applicant is approved, we require a nonrefundable Holding Fee to make sure they are serious…

That said, here is how I would proceed...For some background, I used to run an STR management company in SATX and we peaked at about 35 properties under management. 

Try interviewing at least three managers.1.

As a management company, we also have a duty to get a property occupied with a qualified resident as soon as possible and sometimes that means adjusting rents down for right now to generate revenue.  

Unfortunately, over the 11 months he has lived there, he has only managed to pay the rent on time once.

Whether you’re managing properties, operating STRs or long-term rentals (LTRs), or just have an opinion on the state of the market, I’m eager to hear your thoughts and any new developments you’ve noticed.Here are a few things I’ve observed:Increased Supply of RentalsI’ve lived in Gainesville for a while now, and I remember a time when it was tough to find a rental.

I generally work with home owners looking for long term management, but I do work with a local broker with access to off-market deals, and he sees a lot of activity in the area.